Manchester-headquartered LBG Media, which operates leading digital publisher LADbible, has unveiled its trading update for the year ending December 31st.
With full-year results for 2021 set to be released on April 21st 2022, LBG Media has announced that revenue for 2021 is anticipated to be ahead of expectations, on at least £54 million. That marks annual growth of around 80%.
It also expects adjusted EBITDA to also beat expectations, above the previous consensus of £16.2 million.
Direct and indirect revenue are reported to have contributed to LBG Media’s strong year, and following its IPO in December 2021 which raised capital worth £30 million, the group reported net cash of £34.3 million at the end of 2021 – in contrast to their £6.3 million in debt reported in 2020.
It revealed that views of content generated by the group had almost doubled, rising from 31.8 billion to 62.9 billion, and that they had successfully increased monetisation across social platforms, while also increasing content marketing and direct display sales in the UK, Australia and Ireland.
LADbible Group has offices in London, Dublin, Sydney, Melbourne and Auckland, and operates media brands including UNILAD, GAMINGbible, SPORTbible and Tyla.
Solly Solomou, CEO, said: “LBG Media delivered an outstanding performance in 2021, both financially and operationally.
“The business operates in structurally growing markets, and it is a testament to our well-invested operations that we have the platform, the audience and the knowhow to deliver relevant content to a coveted, hard-to-reach youth audience across a broad portfolio of distinct brands.
“This positions us very well for the future, as we execute our stated growth strategy from a position of financial and operational strength.”
